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Key Points Hershey plans bold changes after disappointing Halloween candy sales and higher cocoa costs. The company will expand into snacks like Dot's Pretzels and focus on year-round offerings. CEO Kirk Tanner says the sales weakness is temporary; growth outlook remains positive. The Hershey Company is shaking things up after what it calls a disappointing Halloween season. In a new report from The Street, the Pennsylvania-based candy giant said it’s planning a “bold strategy” after lower-than-expected Halloween candy sales. The holiday is one of Hershey’s biggest money-makers each year, so a softer season has the company looking for new ways to keep shoppers excited and coming back. CEO Kirk Tanner said Halloween sales started “slower than anticipated,” pointing to a mix of rising cocoa costs, inflation, and warmer weather as possible factors, according to Reuters. Related: Hershey’s Festive New Holiday Candy Release Has Fans Ready to Rush to Stores: ‘Can’t Wait for Them’ A Slow Halloween Sparks A Rethink Halloween usually delivers a big boost for Hershey, but this year stores saw fewer people buying candy compared to previous years. Industry data shows U.S. chocolate sales were nearly flat for the twelve weeks ending October 5, even though prices climbed about eight percent, per Reuters. That slowdown is pushing Hershey to adjust. The company told The Street it’s speeding up “product and packaging changes” to better match what shoppers want and how much they’re willing to spend. It also plans to focus more on snacks that go beyond candy, such as Dot’s Homestyle Pretzels and SkinnyPop popcorn, two of its fastest-growing brands. Instead of relying mainly on big candy holidays like Halloween, Hershey is aiming for steadier year-round sales with a wider mix of treats. The company has also been leaning into premium and “better-for-you” snacks to reach health-minded and younger consumers who still want indulgence without overdoing it. What Comes Next Even with Halloween off to a slower start, Hershey raised its full-year sales outlook to about three percent, signaling that it still expects growth. Tanner said the weakness “is not broad-based across our business,” meaning the slowdown looks temporary, according to Reuters. As tastes shift and prices rise, Hershey’s is trying to stay one step ahead. By balancing classic candy favorites with new snack options, the brand hopes to make next Halloween, and every season in between, a little sweeter.
